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Mortgage Broker News | 19 Sep 2011, 08:58 AM Agree 0
It’s a solution many A clients struggling to come up with a down payment may have overlooked. It’s also one with the potential to expand broker revenue streams, said a DLC leasing specialist, pointing to the sale-leaseback transaction.
  • Ottawa Broker | 20 Sep 2011, 04:41 AM Agree 0
    If a client has to go through all this to qualify, isn't the client over extending and should scale back on the property they are buying? Or, should they even be looking at buying a property at this time? Obtaining debt to get a bigger debt doesn't sound like good advice given to a client looking to buy a home. But, that is my opinion.
  • AB Broker | 20 Sep 2011, 08:43 AM Agree 0
    I wonder how many people this would really help. Would the client who is struggling to come up with the down payment be the same client who happens to have equity in a newer model car. Doubtful.

    While there’s no requirement for the client to own the vehicle outright, the “factor of seven” rule applies. “The sum of the age of the vehicle and the term of the lease cannot exceed seven``
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